--- type: court_doc id: "court_ctb_1830_0" court: "CTB" case_no: "22-50073" doc_number: 1830 doc_type: "UNKNOWN" filed_date: null lang: "en" machine_translated: false url: "https://mubeitech.com/en/court/court_ctb_1830_0" json_url: "https://mubeitech.com/api/court/court_ctb_1830_0" --- # Guo Wengui / Miles Guo — bankruptcy case · ECF #1830 UNITED STATES BANKRUPTCY COURT　DISTRICT OF Connecticut Bridgeport Division In Re. Genever Holdings LLC Debtor(s)　ತಿ န္မွ S S　Case No. 22-50592 Lead Case No. 22-50073 × Jointly Administered Monthly Operating Report　Chapter 11 Reporting Period Ended: 03/31/2023　Petition Date: 10/12/2020 Months Pending: 30　Industry Classification: Reporting Method:　Accrual Basis (　Cash Basis . Debtor's Full-Time Employees (current):　0 Debtor's Full-Time Employees (as of date of order for relief):　0 Supporting Documentation (check all that are attached): (For jointly administered debtors, any required schedules must be provided on a non-consolidated basis for each debtor) Statement of cash receipts and disbursements Statement of operations (profit or loss statement) Accounts receivable aging Postpetition liabilities aging Statement of capital assets Schedule of payments to professionals Schedule of payments to insiders All bank statements and bank reconciliations for the reporting period X Description of the assets sold or transferred and the terms of the sale or transfer　Balance sheet containing the summary and detail of the assets, liabilities and equity (net worth) or deficit /s/Luc A Despins, Chapter 11 Trustee　Luc A Despins, Chapter 11 Trustee Signature of Responsible Party 05/26/2023　Printed Name of Responsible Party Date　Paul Hastings 200 Park Ave, New York, NY 10166 Address STATEMENT: This Periodic Report is associated with an open bankruptcy case; therefore, Paperwork Reduction Act exemption 5 C.F.R. § 1320.4(a)(2) applies. Debtor's Name Genever Holdings LLC　Case No. 22-50592 Part 1: Cash Receipts and Disbursements　Current Month　Cumulative a.　Cash balance beginning of month　\$67,950 b. Total receipts (net of transfers between accounts)　\$0　80 c. Total disbursements (net of transfers between accounts)　80　\$22,087 d. Cash balance end of month (a+b-c)　\$67,950 e. Disbursements made by third party for the benefit of the estate　\$87,277　\$2,401,491 f. Total disbursements for quarterly fee calculation (c+e)　\$87,277　\$2,423,578 Part 2: Asset and Liability Status (Not generally applicable to Individual Debtors. See Instructions.)　Current Month a.　Accounts receivable (total net of allowance)　80 b. Accounts receivable over 90 days outstanding (net of allowance)　\$0 C.　Inventory (Book ( Market ( Other ( (attach explanation))　80 d　Total current assets　\$1,144,955 e.　Total assets　\$71,144,955 f.　Postpetition payables (excluding taxes)　80 g.　Postpetition payables past due (excluding taxes)　\$0 h.　Postpetition taxes payable　\$0 i.　Postpetition taxes past due　\$0 j.　Total postpetition debt (f+h)　\$0 k.　Prepetition secured debt　\$775,678 1.　Prepetition priority debt　80 m. Prepetition unsecured debt　\$195,300,000 n.　Total liabilities (debt) (j+k+1+m)　\$196,075,678 0.　Ending equity/net worth (e-n)　\$-124,930,723 Part 3: Assets Sold or Transferred　Current Month　Cumulative a. Total cash sales price for assets sold/transferred outside the ordinary course of business b. Total payments to third parties incident to assets being sold/transferred　80　80 outside the ordinary course of business　\$0　80 C.　Net cash proceeds from assets sold/transferred outside the ordinary course of business (a-b)　\$0　8 Part 4: Income Statement (Statement of Operations)　Current Month　Cumulative (Not generally applicable to Individual Debtors. Sec Instructions.) a. Gross income/sales (net of returns and allowances)　\$0 b. Cost of goods sold (inclusive of depreciation, if applicable)　\$0 C.　Gross profit (a-b)　\$0 d.　Selling expenses　80 e.　General and administrative expenses　80 f. Other expenses g. Depreciation and/or amortization (not included in 4b) h. Interest Taxes (local, state, and federal) i. - j. Reorganization items - Profit (loss) k. \$87,277 \$0 \$0 \$0 \$0 \$0 \$-87,277 Genever Holdings LLC Part 5: Professional Fees and Expenses Approved Current Month　Approved Cumulative　Paid Current Month　Paid Cumulative Debtor's professional fees & expenses (bankruptcy) Aggregate Total Itemized Breakdown by Firm Firm Name　Role ii iii iv V vi vii viii ix X xi xii xiii xiv XV xvi xvii xviii xix XX xxi xxii xxiii xxiv XXV XXVİ xxvii xxviii xxix XXX XXXI xxxii xxxiii XXİV XXXV XXXVI Genever Holdings LLC Case No. 22-50592 xxxvii xxxvii xxxix xl xli xlii xliii xliv xlv xlvi xlvii xlviii xlix l li lii liii liv lv lvi lvii lviii lix lx lxi lxii lxiii lxiv lxv lxvi lxvii lxviii lxix lxx lxxi lxxii lxxiii lxxiv lxxv lxxvi lxxvii lxxvii Case No. 22-50592 Genever Holdings LLC lxxix lxxxx lxxxi lxxxii lxxxii lxxxiv lxxxv lxxxvi lxxxvi lxxxvi lxxxix XC xci xcii xciii xciv XCV xcvi xcvii xcviii xcix C Ci Approved　Approved　Paid Current　Paid Current Month　Cumulative　Month　Cumulative b.　Debtor's professional fees & expenses (nonbankruptcy) Aggregate Total Itemized Breakdown by Firm Firm Name　Role　ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘ ii iii iv V vi vii viii ix x xi xii xiii xiv Genever Holdings LLC Case No. 22-50592 XC1X All professional fees and expenses (debtor & committees) € ر Part 6: Postpetition Taxes　Current Month　Cumulative a. Postpetition income taxes accrued (local, state, and federal)　\$0　\$0 b. Postpetition income taxes paid (local, state, and federal)　\$0　\$0 c. Postpetition employer payroll taxes accrued　\$0　\$0 d. Postpetition employer payroll taxes paid　80　\$0 e.　Postpetition property taxes paid　80　\$0 f.　Postpetition other taxes accrued (local, state, and federal)　\$0　\$0 g. Postpetition other taxes paid (local, state, and federal)　80　\$0 Part 7: Questionnaire - During this reporting period: a. Were any payments made on prepetition debt? (if yes, see Instructions)　Yes C　No (C b. Were any payments made outside the ordinary course of business without court approval? (if yes, see Instructions)　Yes C　No (C c.　Were any payments made to or on behalf of insiders?　Yes (　No (o d.　Are you current on postpetition tax return filings?　Yes (C　No ( e. Are you current on postpetition estimated tax payments?　Yes C　No ( f.　Were all trust fund taxes remitted on a current basis?　Yes C　No (o g.　(if yes, see Instructions)　Was there any postpetition borrowing, other than trade credit?　Yes (　No (o h.　the court?　Were all payments made to or on behalf of professionals approved by　Yes (　No ( N/A G i.　Do you have:　Worker's compensation insurance?　Yes (　No (C If yes, are your premiums current?　Yes C　No ( N/A ( (if no, see Instructions) Casualty/property insurance?　Yes (C)　No ( If yes, are your premiums current?　Yes ( No ( N/A ( (if no, see Instructions) General liability insurance?　Yes (•　No ( If yes, are your premiums current?　Yes (C)　No ( N/A ( (if no, see Instructions) j. Has a plan of reorganization been filed with the court?　Yes (　No (o k. Has a disclosure statement been filed with the court?　Yes (　No (o 1.　Are you current with quarterly U.S. Trustee fees as set forth under 28 U.S.C. § 1930?　Yes (C　No ( Genever Holdings LLC Part 8: Individual Chapter 11 Debtors (Only) a.　Gross income (receipts) from salary and wages　\$0 b. Gross income (receipts) from self-employment　\$0 C.　Gross income from all other sources　\$0 d.　Total income in the reporting period (a+b+c)　\$0 e.　Payroll deductions　\$0 f.　Self-employment related expenses　\$0 g　Living expenses　\$0 h.　All other expenses　\$0 1.　Total expenses in the reporting period (e+f+g+h)　\$0 J.　Difference between total income and total expenses (d-i)　\$0 k. List the total amount of all postpetition debts that are past due　\$0 l. U.S.C § 101(14A)?　Yes ( No ( m. If yes, have you made all Domestic Support Obligation payments?　Yes ( N/A (C Privacy Act Statement 28 U.S.C. § 589b authorizes the collection of this information of this information is mandatory under 11 U.S.C. \$ 704, 1106, and 1107. The United States Trustee will use this information to calculate statutory fee assessments under 28 U.S.C. § 1930(a)(6). The United States Trustee will also use this information to evaluate a chapter 11 debtor's progress through the bankruptcy system, including the ilkelihood of a plan of reorganization being confirmed and whether the case is being prosecuted in good faith. This information may be disclosed to a bankruptcy trustee or examiner when the information is needed to perform the trustee's or examiner's duties or to the appropriate federal, state, local, regulatory, tribal, or foreign law enforcement agency when the information indicates a violation of law. Other disclosures may be made for routine purposes. For a discussion of the types of routine disclosures that may be made, you may consult the Executive Office for United States Trustee's systems of records notice, UST-001, "Bankruptcy Case Files and Associated Records." See 71 Fed. Reg. 59,818 et seq. (Oct. 11, 2006). A copy of the notice may be obtained at the following link: htt www.justice.gov/ust/eo/rules regulations/index.htm. Failure to provide this information could result in the dismissal or conversion of your bankruptcy case or other action by the United States Trustee. 11 U.S.C. § 1112(b)(4)(F). I declare under penalty of perjury that the foregoing Monthly Operating Report and its supporting documentation are true and correct and that I have been authorized to sign this report on behalf of the estate. /s/ Luc A Despins, Chapter 11 Trustee Signature of Responsible Party Chapter 11 Trustee of Ho Wan Kwok Title Luc A Despins, Chapter 11 Trustee Printed Name of Responsible Party 05/26/2023 Date Genever Holdings LLC Case No. 22-50592 Genever Holdings LLC Page Four UNITED STATES BANKRUPTCY COURT DISTRICT OF CONNECTICUT BRIDGEPORT DIVISION x In re:　:　Chapter 11 GENEVER HOLDINGS LLC,　:　Case No. 22-50592 (JAM) Debtor.　:　Jointly administered under :　Lead Case 22-50073 (JAM) x ATTACHMENT TO MONTHLY OPERATING REPORT FOR THE PERIOD ENDING MARCH 31, 2023 This attachment is incorporated into and made a part of the Monthly Operating Report ("MOR") of Genever Holdings LLC (the "Debtor"). General Disclaimers - 1. The MOR is presented on a form promulgated in 2021 by the Executive Office of the United States Trustee. This form in many instances requires inserting a number for a line item even if the line item does not apply. The form also does not allow for the insertion of explanations or asterisks next to answers. Accordingly, as presented, certain responses may be inapplicable or incomplete. This attachment is being filed as an integral part of the MOR. - 2. The Debtor has been under the control of Luc A. Despins, in his capacity as chapter 11 trustee (the "Trustee") in the case of Ho Wan Kwok, since September 2022. Information herein reflects the information available to the Trustee as of the date of the filing of this MOR, but is subject to revision based on the Trustee's ongoing investigation and review of claims. For example, the amount of prepetition debt reported in Part 2 of the MOR, derived from the Debtor's schedules of assets and liabilities filed on November 3, 2020 (the "Schedules"), may be adjusted based on the disallowance of certain claims or the allowance of claims filed in connection with the reopened claims filing process with respect to which the claims bar date was set for February 17, 2023. Moreover, the value of the apartment at the Sherry Netherland Hotel, which the Debtor believes is its primary asset, may in reality be significantly lower than the amount reported in Part 2 of the MOR. In particular, the value of the apartment may be a fraction of the amount reported in Part 2 of the MOR given the fire that occurred in the apartment on March 15, 2023. The Trustee makes no representation as to the current market value of the Debtor's assets. - 3. The Trustee reserves the rights to amend, modify or supplement this MOR or update it in future MORs.